The window to a new round of stimulus programs for Ohio small businesses, bars, restaurants and low-income renters and homeowners opens Monday.
But small businesses interested in one program that provides $10,000 grants shouldn't dawdle: That window figures to close fast.
Last week, the state announced $419.5 million in federal relief programs meant to help low-income families, small businesses, hospitals, colleges, nonprofit groups, arts groups and others.
The Ohio Development Services Agency, which will run the programs, has posted instructions for the new programs at BusinessHelp.Ohio.Gov. The application process for the programs is meant to be simple and quick.
"When we look at all these different programs, it's a substantial economic package to help those really hurting from the pandemic,’’ said Lydia Mihalik, director of the Ohio Development Services Agency, which is administering the programs.
The relief is one of several steps the state has taken to help businesses battered by the pandemic.
Just this week, the state announced a $5 billion payment to Ohio employers from the state's fund for injured workers.
"We recognize things are uncertain at this point in the pandemic," Mihalik said. "The injury to these businesses and other institutions is going to be long term."
One new program, the Small Business Relief Grant, is a $125 million fund that provides a $10,000 grant to eligible businesses with no more than 25 employees.
The grants are being spread over Ohio's 88 counties. Fifty businesses in each county will get funding. After that, the rest of the money will be awarded to businesses throughout Ohio.
The money is awarded on first-come, first-served basis, and that's why businesses will need to act fast. The grants can be used to cover costs such as payments for rent, mortgage, salaries and expenses related to the pandemic.
The state will begin taking applications at 10 a.m. Monday. The state is encouraging small businesses to start the process now by establishing an Ohio ID that will be needed for the application.
Separately, the state has designated $38.7 million for the Bar and Restaurant Assistance Fund geared toward liquor permit holders.
Businesses with a permit that allows on-premises alcohol consumption are eligible to receive $2,500 per business location. About 15,400 locations are eligible.
Unlike the small-business grants, the money will be available to bars and restaurants until Dec. 30.
"All businesses in the state have been adversely affected," said Sherry Maxfield, director of the Ohio Department of Commerce. "The hospitality industry has been hit the hardest."
The money can be used by bars and restaurants to pay rent, buy supplies or take care of other expenses with minimal strings attached, she said.
The Development Services Agency also will allocate $50 million to 47 Community Action Agencies to help low-income families pay rent, mortgages or utility bills. Ohio families can apply for the assistance through their local Community Action agency beginning Monday.
Ohio households behind on their bills with an annual income at or below 200% of the federal poverty guidelines will be eligible for assistance. Families of four are eligible if they make no more than $52,400 a year.
Source: https://www.the-daily-record.com/story/business/2020/11/01/ohio-small-business-pandemic-relief-grant-program-launches-monday/6076762002/